The Dallas Observer has an interesting article by Kimberly Thorpe about how to beat debt collectors [6]. Apparently most debt collectors break the law in some way and can be sued for damages – with a typical settlement of $3,500. Some debtors are suing multiple debt collectors, after one debt collector is successfully sued the debt is passed to another collector who also breaks the law. What I really like about this is that the community of people who sue debt collectors keep the industry honest and protect the majority of the population who don’t have the time or interest for engaging in law suits.

Kevin Kelly of the Technium wrote an interesting post about 1000 true fans [9]. The concept is that if you are doing creative work you only need 1000 dedicated fans who buy everything you sell to make a living. If you make $20 per year from each of the 1000 fans and you will earn enough to live. Make $100 per year from each of the 1000 fans and you will be earning more money than most people. The updates show that artists who try this aren’t having much success yet, but the Internet population is still increasing dramatically…

1 comment to Links February 2010

The good thing about suing debt collectors who target individuals and households is that it pushes up the cost (to both sides) of so-called “consumer credit.” If you really think about it, offering people credit in order to “consume” is a waste of capital that might otherwise be used in productive projects. Households should be using their savings to _form_ capital, not drain it.